http://news.yahoo.com/s/ap/20090302/ap_on_bi_ge/untouchable_endowments
The shrinking value of endownments has left some non-profits unable to use them.
Find out why.
From the article:
Since early 2007, 26 states and the District of Columbia have passed laws that give nonprofit organizations more flexibility in using money from endowments that are underwater. Because of the economic meltdown, 12 other states are considering such laws, according to the National Conference of Commissioners of Uniform State Laws.
Still, some nonprofits aren't willing to dip into their endowments even when the law allows.
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